CHAIRMAN & MANAGING DIRECTOR'S STATEMENT
Dear Shareholders,
I am delighted to share with you the events and developments of your Company during the
course of the Financial Year 2024-25. The year gone by is representative of the value
Godrej Industries continues to create for all its stakeholders.
As a conglomerate with diverse business interest, growth at consolidated level is
pursued through competitively growing your Company's core businesses, building an
environment to achieve transformation while also nurturing and investing in emergent
businesses of the future. This approach of your Company's business strategy is captured in
the approach called CREATE which stands for:
Nadir Godrej
I would like to summarize the performance for each dimension of your Company's CREATE
strategy:
C - Consumer and Chemicals Consumer (GCPL)
In FY 25, GCPL saw strong momentum in innovation and working media investment. Brands
like Godrej Aer & FAB continued to grow well. Goodknight incense sticks have also been
a big success.
Godrej Ninja, GCPL's new entry into pet food, is a launch which it did in a record time
with the partnership of our Group company Godrej Agrovet.
GCPL also invested Rs. 500 crore each in new Greenfield facilities at Chengalpattu in
Tamil Nadu and at Malanpur in Madhya Pradesh. The Chengalpattu site is especially
energising its new ‘lighthouse' factory: digital-first, highly efficient, and a model
for inclusive hiring across gender, LGBTQIA+, and PWD communities.
I am happy to share that GCPL was recognised on the Dow Jones Sustainability Index 2024
Emerging Markets and we also ranked #2 among global consumer goods companies on the DJSI
World Index 2024.
GCPL is focussed and committed to delivering a strong FY 26 performance, while
continuing to shape our future ambitiously.
Chemicals
Our Chemicals business, which is focused on bringing green chemistry to the world,
delivered a strong performance in fiscal year 2025, recording total revenue of '3,393
crore, a 26% increase over the previous year. This growth reflects the successful
execution of our strategy, with a key focus on driving volumes. The business achieved an
impressive 13% volume growth, with total sales volumes reaching 226K MT, the highest-ever
volume sales in the history of the business. This volume growth spanned all key product
categories: Oleochemicals grew by 14%, Surfactants by 11% and Specialty Chemicals by 13%.
The business has invested and is investing well in building manufacturing capacities
and scale capabilities across the Commercial, R&D and Supply Chain teams.
During the year, our Chemicals Business signed a Business Transfer Agreement for
acquisition of a Food Additives business having a manufacturing facility at Goa. This
business acquisition was completed in April 2025 and is in line with our long-term
strategy to grow and strengthen our specialty chemicals portfolio.
Our Chemicals Business also acquired an Ethoxylation manufacturing facility at Kheda
Gujarat, which will support the expansion of our specialty portfolio.
We continue to ensure that our chemicals business is both sustainable as well as
profitable. We continue to accord the highest importance to safety. Several initiatives
taken by the Business resulted in supply chain efficiencies. I am happy to share that the
Chemicals Business received several awards and recognition. Our Valia Factory received the
prestigious GreenCo star performer award by CII. I am also pleased to inform you that we
have successfully been rated as a RESILIENT COMPANY in the Climate Action Program 2.0 by
CII.
R E - Real Estate (GPL)
Godrej Properties delivered a record-breaking Financial Year 2025 with its highest ever
bookings, collections, operating cashflows, earnings and deliveries as well as a strong
year for business development. FY25 booking value grew 31% Y-o-Y to '29,444 crore through
sale of 15,302 homes with a total area of 25.73 million sq. ft., a Y-o-Y volume growth of
29%.
I am happy to share that GPL is the only leading real estate developer that has
delivered 8 consecutive Financial Years of booking value growth.
GPL's business development additions with a future booking value of '26,450 crore in
FY25 will ensure that we continue to have a strong launch pipeline in the years ahead.
Godrej Properties has deeply focused on sustainable development. GPL has been included
in the 2025 Sustainability Yearbook by S&P Global, recognized among the top 10% in the
Real Estate Management and Development Sector globally and honored as an Industry Mover.
GPL is also included in the Emerging Markets index of the Dow Jones Best in class indices
for the second consecutive year.
In FY 25, GPL received 117 awards.
A - Agri Business (GAVL)
At the consolidated level, GAVL's profitability improved across all business verticals
except Astec Life Sciences and Poultry & Processed Foods. The Profit before tax
(excluding non-recurring & exceptional items) grew by 12%. This growth in
profitability was primarily driven by exceptional performance of the domestic Crop
Protection business, Vegetable Oil business and margin expansion in Animal Feed business.
The domestic Crop Protection business delivered stellar performance primarily driven by
higher volumes of in-house products. The performance of the Vegetable Oil business
improved significantly on the back of improved end-product prices. Animal Feed business
recorded a significant increase in segment margins led by favorable commodity positions
and cost optimization. GAVL's Dairy business continued to build on the remarkable
turnaround and profitability improved year-on-year due to focused efforts on improving
operational efficiencies and improved milk spread. The Poultry business recorded a decline
in topline and profitability. Decline in topline was on account of lower volumes in live
bird category.
Godrej Agrovet continues to focus on achieving the long-term sustainability targets
guided by the Godrej Industries Group's Good & Green vision. For second year in a row,
we have been included in “A” list - leadership band of Climate Disclosure
Project's (CDP) climate disclosures & also for Water & Forests (Palm Oil)
disclosure. GAVL's CDP scores are ahead of the global averages. GAVL has also been
conferred with CII's coveted & prestigious Climate Action Programme ‘CAP 2.0
Award' in “Oriented” category.
T - Transformation
As a Group, your Company believes in inclusive growth that aims at enhancing the
competitiveness of the businesses while simultaneously advancing the economic and social
conditions of the communities in which it operates. This focus is implemented Group wide
through the ‘Godrej Good and Green' initiative.
Our companies have a high focus on environmental performance that's now backed with
strong risk management processes and governance that we've built over a decade. We are
working to get into the leadership position. All our companies have committed towards
Science Based Targets to further strengthen our climate action response.
E - Emergent Businesses
Over the many years, your company has incubated new businesses and grown them
successfully. Our Financial Services Business has done well and has a good growth
potential. Godrej Capital Limited (GCL), a subsidiary of your company, is a Non-Banking
Finance Company - Core Investment Company (NBFC-CIC) (exempt from registration). GCL is
the holding company of Godrej Housing Finance Limited (GFHL), a Non-Banking Finance
Company - Housing Finance Company and Godrej Finance Limited (GFL), a Non-Banking Finance
Company.
During the year, GHFL sanctioned loans amounting Rs.3,465 crore and had an Asset Under
Management (AUM) as on March 31, 2025 at Rs.6,812 crore as compared to Rs.5,463 crore as
on March 31, 2024.
During the year GFL sanctioned loans amounting Rs.6,547 crore and had an Asset Under
Management (AUM) as on March 31, 2025 at Rs.9,205 crore as compared to Rs.4,842 crore as
on March 31, 2024.
We believe that these emergent businesses will create overall value to the
Stakeholders.
To conclude, we had a good year. We remain encouraged and confident of achieving our
long term objectives of inclusive, sustainable and profitable growth. As we look ahead, I
feel confident of strong growth in the medium to long term.
I am confident that our disciplined strategy, prudent approach, focus on agile
execution and our committed team will enable us to improve performance further and create
greater shareholder value.
I would like to take this opportunity to thank all our employees for their contribution
in the continued success of Godrej Industries. I would also like to extend my gratitude
towards our business partners, associates, vendors and also the Central, State governments
and government agencies for their sustained support. I would also like to express my
sincere appreciation to all of our shareholders for your continued faith, trust,
encouragement and support.
| Yours sincerely, |
Nadir Godrej |
Chairman and Managing Director Godrej Industries Limited |